FOR the fans, golf tournaments obviously make economic sense. The pleasure of watching Lee Westwood float a 90-yard pitch to two inches must be worth whatever we paid to watch it happen, or we wouldn’t keep paying it. This holds true whether we are buying tickets to watch Mr Westwood in the flesh or simply slouching in front of the television.

But what about the towns that host golf tournaments, and the companies that sponsor them? A town will include many people who, for some bizarre reason, are not golf fans. And a corporation, not being human, cannot appreciate the artistry of Rory McIlroy’s backswing.

Corporate sponsors are convinced they get a good deal. Consider Travelers, an insurance company. It sponsors an annual tournament called, cryptically, theÂ Travelers Championship, which starts on June 21st.

â€śIt’s great for our business,â€ť says Andy Bessette, the chap at Travelers who, among other things, oversees its sports sponsorship. He cites three benefits. First, â€śglobal brand exposureâ€ť. The tournament is one reason, he says, why the Travelers’ red umbrella is â€śone of the most recognised icons in the worldâ€ť.

Second, says Mr Bessette, the tournament is good for the community. Since 2007 it has had an estimated â€śeconomic impactâ€ť of $135m on the state of Connecticut, where it is held. Third, the tournament raises lots of money for charity.

This last point is clearly true. The Travelers Championship donated $1m to assorted good causes last year. (A large beneficiary is the Hole in the Wall Gang Club, which takes severely disabled children to summer camps.) All PGA tournaments are organised as charities. Between them they haveÂ given more than $1 billion to charity in the past decade and a half.

Mr Bessette’s other two points are hard to prove either way. Do golf tournaments benefit the community? They attract an influx of visitors, who no doubt spend money on hotel rooms, baggy shorts and copies of theÂ Wall Street Journal.

Does that really add up to $135m of economic impact, though? Such estimates are notoriously unreliable. Andrew Zimbalist of Smith College did a survey of the economic literature on big sporting events such as the Olympics. He found thatÂ benefits were hard to pin down.

The new roads and stadiums that cities build before hosting the Olympics can be used long after the athletes have gone home exhausted. However, they must be paid for; plenty of Olympic cities go deep into debt to finance them. A big sporting event may attract lots of free-spending visitors. But some might have come anyway, and some will simply reschedule a planned visit so that it coincides with the Olympics.

Yet a golf tournament is different. It typically requires little new constructionâ€”the golf course is already there, and no golf tournament attracts Olympic-sized crowds, so it probably does not require new hotels. Also, while some people will no doubt reschedule visits to London to coincide with the Olympics, this seems less likely for Cromwell, Connecticut. It’s a nice place, (named after the Englishman who had King Charles I’s head cut off), but not a must-see destination.

As for the benefits to advertisers, Mr Bessette is probably right. People who buy insurance are quite likely to be middle-aged men. Golf is â€śthe game that best connects with our audience,â€ť says Mr Bessette. A big red umbrella floating in a lake by the course (see picture above) gets plenty of exposure on television.Â Before the tournament, theÂ pros compete to see who can land one closest to the flag onÂ the umbrella.Â And if you bringÂ your children, they can compete to chip onto a replica of it.

As any golfer knows, life is full of hazards. Pity you can’t insure against an approach shot that hooks into the water.

Pebble Beach Resorts is a premier destination for golf tournaments and special events. We are proud to welcome golf’s biggest tournaments including five U.S. Open Championships and the annual AT&T Pebble Beach National Pro-Am. We are also home to the widely celebrated Pebble Beach Food & Wine and Pebble Beach Concours d’Elegance, two annual favorites that draw crowds from around the world. For those interested in playing in a tournament, we have several participant tournaments throughout the year.

Our Packages and Special Offers present a wonderful opportunity to become part of the legend that is Pebble Beach Resorts. Enjoy our time-honored traditions of world-class experiences and exemplary service. Resort guests also enjoy special booking privileges for golf reservations.

The game of golf is at its worldwide best at Pebble Beach Resorts. Whether you are anticipating playing the most exciting closing hole in golf, finally mastering the toughest hole on the PGA TOUR or simply relishing walking in the footsteps of golfâ€™s greatest names, Pebble Beach Resorts invites you to become part of the legend.

At each course, a staff of professionals offers individual and group instruction, clinics and group tournaments. Caddies are available. Guests of The Lodge at Pebble Beach, The Inn at Spanish Bay and Casa Palmero enjoy special booking privileges for golf reservations when arranging accommodations. Other players reserve starting times based on availability.